Royal Bank of Canada Raises Loblaw Companies (TSE:L) Price Target to C$234.00

Loblaw Companies (TSE:L) had its price target lifted by Royal Bank of Canada from C$215.00 to C$234.00 in a research report report published on Monday,BayStreet.CA reports.

L has been the topic of a number of other reports. National Bankshares upped their target price on shares of Loblaw Companies from C$192.00 to C$207.00 in a research report on Thursday, April 10th. TD Securities decreased their price objective on Loblaw Companies from C$202.00 to C$195.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Scotiabank upgraded Loblaw Companies from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from C$190.00 to C$215.00 in a report on Friday. CIBC upped their price target on Loblaw Companies from C$206.00 to C$208.00 in a research note on Friday, February 21st. Finally, UBS Group reduced their price objective on shares of Loblaw Companies from C$225.00 to C$210.00 in a research note on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$204.88.

Loblaw Companies Stock Performance

L stock opened at C$210.14 on Monday. The company has a 50 day moving average price of C$189.94 and a 200 day moving average price of C$185.33. Loblaw Companies has a fifty-two week low of C$146.49 and a fifty-two week high of C$212.01. The company has a debt-to-equity ratio of 166.11, a current ratio of 1.29 and a quick ratio of 0.68. The stock has a market capitalization of C$63.54 billion, a PE ratio of 28.52, a price-to-earnings-growth ratio of 3.23 and a beta of 0.17.

Loblaw Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, April 1st were paid a $0.513 dividend. This represents a $2.05 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date was Friday, March 14th. Loblaw Companies’s payout ratio is currently 27.83%.

Insider Activity

In other news, Director Richard Dufresne sold 25,783 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of C$186.55, for a total value of C$4,809,847.01. Also, Senior Officer Kieran Barry Columb sold 11,309 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of C$186.55, for a total value of C$2,109,706.39. Insiders sold 141,456 shares of company stock worth $25,966,244 over the last quarter. 53.77% of the stock is currently owned by company insiders.

Loblaw Companies Company Profile

Loblaw is one of Canada’s largest grocery, pharmacy, and general merchandise retailers, operating the most expansive store footprint in Ontario and maintaining sizable presences in provinces like Quebec and British Columbia. Key grocery banners include Loblaw, No Frills, and Maxi, while its pharmaceutical operations are the product of its 2014 acquisition of Shoppers Drug Mart.